Kent Richard Hofmann Foundation Inc
- Assets
- $1.6m
- Revenue
- $229.1k
- Investments
- $1.5m
- Employees
- 0
- Location
- Jackson, MS
- Founding
- 12/1985
- Data as of
- 01/2022
- EIN
- 58-1576454
Organization Overview
Kent Richard Hofmann Foundation Inc is located in Jackson, MS. The organization was established in 1985. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kent Richard Hofmann Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 01/2022, Kent Richard Hofmann Foundation Inc generated $229.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $144.5k during the year ending 01/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Kent Richard Hofmann Foundation Inc has awarded 229 individual grants totaling $677,528. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORTH IDAHO AIDS COALITION
FOOD AND FRIENDS
PROJECT TRANSITIONS
FOOD AND CARE FOR ALL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank U Parent Officer | 8 | $10,000 | |
J Richard Price Officer | 8 | $10,000 | |
Andrew Parent Officer | 8 | $10,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $14 |
| Dividends & Interest | $96,501 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $118,973 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $13,591 |
| Total Revenue | $229,079 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,000 |
| Other employee salaries and wages | $25,600 |
| Pension plans, employee benefits | $2,000 |
| Interest | $0 |
| Taxes | $349 |
| Depreciation | $459 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $509 |
| Printing and publications | $0 |
| Other expenses | $4,873 |
| Total operating and administrative expenses | $70,955 |
| Contributions, gifts, grants paid | $73,580 |
| Total expenses and disbursements | $144,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,531 |
| Savings and temporary cash investments | $59,487 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,044,812 |
| Net Land, buildings, and equipment | $587 |
| Other assets | $568 |
| Total assets | $1,563,508 |
| Accounts payable and accrued expenses | $424 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $424 |
Grants Awarded
Over the last fiscal year, Kent Richard Hofmann Foundation Inc has awarded $73,580 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
MISCELLANEOUS PURPOSE: ASSISTANCE | $13,500 |
NORTH IDAHO AIDS COALITION PURPOSE: ASSISTANCE | $8,000 |
FOOD AND FRIENDS PURPOSE: ASSISTANCE | $5,025 |
RESOURCE CENTER PURPOSE: ASSISTANCE | $5,000 |
FOOD AND CARE FOR ALL PURPOSE: ASSISTANCE | $5,000 |
PROJECT TRANSITIONS PURPOSE: ASSISTANCE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
Rob And Melani Walton Foundation Bentonviille, AR | $541,056,642 | $120,568,910 |
Wend Ii Inc Bentonville, AR | $174,655,774 | $207,303,582 |
Maclellan Foundation Inc Chattanooga, TN | $225,301,353 | $34,552,415 |
Town Branch Foundation Bentonville, AR | $511,930,269 | $39,195,874 |
The Frist Foundation Nashville, TN | $198,128,014 | $36,312,656 |
Zoma Foundation Bentonville, AR | $228,655,575 | $19,208,599 |
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
The William B Wiener Jr Foundation Shreveport, LA | $23,196,478 | $3,677,470 |
Bashinsky Foundation Inc Birmingham, AL | $2,626,965 | $3,568,518 |